Imagine building your dream home in Allen Creek Landing, a privately gated subdivision on Lake Russell just outside of Lowndesville, SC, with an Iva address due to its proximity. This exceptional two-acre lot already has an approved perk permit ready for construction without delay. Whether you envision a cozy retreat or a spacious residence, the minimum building requirement of 1400 Sq. Ft. ensures plenty of options to suit your style (site-built homes only). Nature enthusiasts will appreciate the wildlife that abounds in the surrounding area. Perfect location for kayaking/canoeing adventures on Lake Russell. For the big boat put ins, the nearby public boat launch ramp at Allen Creek Ramp is just 1 mile from the subdivision entrance, offering ideal conditions for "GONE FISHING" for those largemouth bass, crappie, bream and catfish. Visualize designing your perfect home surrounded by the untouched beauty of rural Abbeville County. Whether seeking a permanent residence or your personal weekend getaway, Allen Creek Landing invites you to relax, explore, and embrace outdoor living. Subdivision has Covenants and Restrictions that apply. Also, this two-acre parcel qualifies for forestry agriculture tax incentives under an Abbeville County Ordinance. Don't miss out on this opportunity!
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Our Executive Mortgage Banker:
Our Insurance Division:
$28,500
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $22,800 | $22,800 | $22,800 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $152 | $152 | $195 |
Total Monthly Payment | $227 | $227 | $270 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.